- Term Insurance is the cheapest form of insurance.
- Provides a safety net for your family.
- Tax saving instrument.
- It pays a death benefit to the beneficiary you name.
- It will cover your final expenses and provide a lump sum for your dependents.
- It covers you for the full amount of life insurance you choose.
- It gradually increases annual premium as you get older. (Some Policies)
- It traditionally works well to meet temporary insurance needs.
Disadvantages of Term Life Insurance.
- No returns.
- Nothing is paid if u outlive the term.
- Only cover for a term.
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